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Level 2
posted Feb 13, 2023 6:04:39 AM

Inactive S Corporation

I have filed my S Corp as inactive for the past few years as we are doing no business at the moment, but I don't want to get rid of the business just yet. My accountant usually files our taxes but if I wanted to do them myself this year and wanted to know what forms I have to file.

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1 Best answer
Expert Alumni
Feb 13, 2023 7:29:50 AM

Yes, you can file Form 1120S yourself showing zero activity. There is no exception for an S Corp with no activity for the year.

 

The due date is March 15, 2023.

 

You will need Turbo Business products. Please see the link below for TurboTax Business Returns

 

Small Business 

 

@SarahG22 

 

[Edited 02/14/2023| 8:36AM PST]

 

3 Replies
Expert Alumni
Feb 13, 2023 6:22:03 AM

An S Corporation files an 1120-S Form.

Level 2
Feb 13, 2023 6:45:18 AM

Is this something I can do myself and just enter the same details as last year?

Expert Alumni
Feb 13, 2023 7:29:50 AM

Yes, you can file Form 1120S yourself showing zero activity. There is no exception for an S Corp with no activity for the year.

 

The due date is March 15, 2023.

 

You will need Turbo Business products. Please see the link below for TurboTax Business Returns

 

Small Business 

 

@SarahG22 

 

[Edited 02/14/2023| 8:36AM PST]